Tenable (NASDAQ:TENB) Shares Gap Down – Should You Sell?

Tenable Holdings, Inc. (NASDAQ:TENB) shares gapped down prior to trading on Friday . The stock had previously closed at $43.01, but opened at $41.97. Tenable shares last traded at $41.88, with a volume of 11,008 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Morgan Stanley dropped their target price on Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Canaccord Genuity Group cut their target price on shares of Tenable from $57.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Barclays reduced their target price on shares of Tenable from $49.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company cut their price target on shares of Tenable from $60.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Finally, Stifel Nicolaus reduced their price objective on shares of Tenable from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.81.

Tenable Trading Up 0.1 %

The company has a 50 day simple moving average of $41.21 and a 200-day simple moving average of $41.69. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88.

Insider Activity at Tenable

In other Tenable news, CFO Stephen A. Vintz sold 2,801 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total value of $114,056.72. Following the completion of the sale, the chief financial officer now owns 281,536 shares of the company’s stock, valued at approximately $11,464,145.92. This trade represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Mark C. Thurmond sold 2,343 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $42.74, for a total value of $100,139.82. Following the transaction, the chief operating officer now directly owns 37,188 shares in the company, valued at $1,589,415.12. The trade was a 5.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,654 shares of company stock worth $862,879 in the last quarter. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Tenable

Several hedge funds have recently bought and sold shares of TENB. FMR LLC lifted its stake in shares of Tenable by 2.0% in the third quarter. FMR LLC now owns 15,210,927 shares of the company’s stock valued at $616,347,000 after buying an additional 305,334 shares in the last quarter. Mackenzie Financial Corp lifted its position in Tenable by 12.7% in the 2nd quarter. Mackenzie Financial Corp now owns 4,191,935 shares of the company’s stock valued at $182,685,000 after acquiring an additional 471,126 shares in the last quarter. RGM Capital LLC boosted its stake in Tenable by 4.5% during the 2nd quarter. RGM Capital LLC now owns 3,539,236 shares of the company’s stock valued at $154,240,000 after purchasing an additional 153,127 shares during the last quarter. State Street Corp increased its holdings in Tenable by 2.6% during the 3rd quarter. State Street Corp now owns 2,913,580 shares of the company’s stock worth $118,058,000 after purchasing an additional 73,293 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Tenable by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,794,485 shares of the company’s stock worth $113,255,000 after purchasing an additional 33,303 shares during the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

Tenable Company Profile

Tenable Holdings, Inc provides cyber exposure solutions for in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. Its platforms include Tenable Vulnerability Management, a cloud-delivered software as a service that provides organizations with a risk-based view of traditional and modern attack surfaces; Tenable Cloud Security, a cloud-native cloud security solutions for security teams to continuously assess the security posture; Tenable Identity Exposure, a solution to secure Active Directory environments; Tenable Web App Scanning, which provides scanning for modern web applications; Tenable Lumin Exposure View, a measurement tool; Tenable Attack Surface Management, an external attack surface management solution; Tenable Security Center, an on-premises solution that provides a risk-based view of an organization’s IT, security and compliance posture; and Tenable OT Security, an operational technology security solution which provides threat detection, asset tracking, vulnerability management, and configuration control capabilities.